30 Million Retail Customers Use Revolut Worldwide

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The company said in a statement on Thursday (June 1) that since November 2022, it has added more than 5 million subscribers worldwide.

“Revolut is growing at almost one million customers per month,” reads a press release from CEO and co-founder Nik Storonsky.

“This is a fantastic achievement for the company as we continue to grow and scale at a rapid pace, and reaching 30 million customers is another significant milestone of which we are extremely proud.”

The company asserts that, eight years after opening its doors in London, it now serves over 6.8 million British customers. The United Kingdom contributed the most to the network’s five million new users since November, when 1.2 million Brits joined the site.

According to that article, Revolut has been in discussions about obtaining a banking license for more than two years with the Financial Conduct Authority and Prudential Regulation Authority in Britain. That’s a lot more time than the typical turnaround time for licenses, which, according to the Financial Times, is less than a year.

Two people with knowledge of the licensing procedure also made comments in the story, stating that Revolut’s licensing application has effectively stopped.

Despite the growing popularity of neobanks, recent research reveals that many customers are hesitant to switch from traditional banks to neobanks.